** charts before earnings **
** charts after earnings **
Avon Products misses by $0.05, beats on revs :
- Reported Q2 (Jun) adj. EPS $0.07 per share, excluding non-recurring items, $0.04 better than the Capital IQ Consensus of $0.03; revenues fell 8.3% year/year to $1.43 bln vs the $1.4 bln Capital IQ Consensus.
- Gross margin was 60.6%, down 40 basis points while Adjusted gross margin was 60.6%, down 70 basis points. These year-over-year comparisons were negatively impacted by an approximate 290 basis point impact from foreign exchange, partially offset by pricing actions, favorable mix and lower supply chain costs.
- Operating margin was 6.6% in the quarter, up 90 basis points while Adjusted operating margin was 7.3%, up 100 basis points. These year-over-year comparisons benefited from the favorable net impact of price/mix, as well as continued benefits from cost savings initiatives, partially offset by approximately 350 basis points of unfavorable impact of foreign exchange.
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